C3.ai, Inc. (NYSE:AI) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its position in C3.ai, Inc. (NYSE:AIFree Report) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,133 shares of the company’s stock after acquiring an additional 1,179 shares during the quarter. Arizona State Retirement System’s holdings in C3.ai were worth $692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in C3.ai by 29.1% during the third quarter. Vanguard Group Inc. now owns 9,042,202 shares of the company’s stock worth $113,028,000 after buying an additional 2,037,342 shares during the last quarter. Two Sigma Investments LP boosted its holdings in C3.ai by 2,277.8% during the first quarter. Two Sigma Investments LP now owns 1,435,097 shares of the company’s stock valued at $48,176,000 after acquiring an additional 1,374,743 shares during the period. Frontier Capital Management Co. LLC bought a new stake in shares of C3.ai in the first quarter valued at about $33,578,000. Renaissance Technologies LLC lifted its stake in shares of C3.ai by 39.3% in the first quarter. Renaissance Technologies LLC now owns 2,412,200 shares of the company’s stock valued at $54,757,000 after buying an additional 680,700 shares during the period. Finally, Spring Creek Capital LLC bought a new stake in shares of C3.ai in the first quarter valued at about $13,763,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of NYSE AI opened at $25.83 on Thursday. The stock has a market capitalization of $3.10 billion, a P/E ratio of -11.23 and a beta of 1.57. The company has a 50-day moving average price of $27.66 and a 200-day moving average price of $28.72. C3.ai, Inc. has a 1 year low of $16.79 and a 1 year high of $48.87.

C3.ai (NYSE:AIGet Free Report) last released its quarterly earnings results on Wednesday, December 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.05. The business had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $74.33 million. C3.ai had a negative net margin of 95.83% and a negative return on equity of 28.19%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.63) earnings per share. As a group, equities research analysts anticipate that C3.ai, Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. DA Davidson dropped their price target on shares of C3.ai from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. Canaccord Genuity Group reissued a “hold” rating and issued a $27.00 price target on shares of C3.ai in a research report on Thursday, December 7th. Piper Sandler dropped their price target on shares of C3.ai from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. StockNews.com raised shares of C3.ai to a “sell” rating in a report on Tuesday, November 21st. Finally, Oppenheimer raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.33.

Get Our Latest Stock Analysis on AI

Insider Activity

In related news, CFO Juho Parkkinen sold 5,513 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $30.56, for a total transaction of $168,477.28. Following the sale, the chief financial officer now owns 296,907 shares of the company’s stock, valued at approximately $9,073,477.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other C3.ai news, CTO Edward Y. Abbo sold 45,548 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $30.73, for a total value of $1,399,690.04. Following the completion of the transaction, the chief technology officer now owns 727,373 shares of the company’s stock, valued at approximately $22,352,172.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Juho Parkkinen sold 5,513 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $30.56, for a total transaction of $168,477.28. Following the completion of the sale, the chief financial officer now directly owns 296,907 shares of the company’s stock, valued at approximately $9,073,477.92. The disclosure for this sale can be found here. Insiders have sold a total of 61,931 shares of company stock valued at $1,876,191 over the last quarter. Company insiders own 34.00% of the company’s stock.

About C3.ai

(Free Report)

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.

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Institutional Ownership by Quarter for C3.ai (NYSE:AI)

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